Startup Story of Saurav Kumar, Euler Motors Founder
Today in the series of Indian startup success stories, we are talking about the Founder of Euler Motors, Saurav Kumar.
Sourav’s primary education complete in Jankinagar village of Purnia in Bihar. His father, Om Prakash Yadav was a teacher in a school.After this, he got a scholarship from Sulabh, the company of Bindeshwar Pathak.
Then he got admission in class VI in 1999 at DPS, RK Puram in Delhi’s RK Puram. In 2005, Saurav passed 12th and in the same year he got selected in Delhi College of Engineering (DCE).
While studying there, he built an autonomous ground vehicle with the funds of DSIR. For this, he also received the Young Entrepreneur Award from CII.
After obtaining his B.Tech (B. Tech.) degree from Delhi College of Engineering (DCE), he went to France for for INRIA Grenoble Rhone Alpes Research Internship.
There he worked on the next generation driving assistance system. This helped in reducing roadside accidents.
From there Saurav went to USA for further studies. Then in 2010-11, he started doing a master’s program in computer science from Cornell University in New York.
At the same time, in America, he worked in well-known companies like Oracle and Yahoo with a salary package of about $150,000 (Rs 1,06,30,575) per annum. Sourav’s role in those organizations was that of a software developer.
There he focused on machine learning and computer vision. While studying there, he designed an autonomous underwater vehicle, which was also appreciated by the Office of Naval Research, USA.
There he took a high-paying job, but his mind was settled in India. He wanted to return to his home. Later he took a strong decision and left his job of one crore rupees in American company.
Then he left everything and came back to India, right here, he wants to do something in his country.
In 2021, after returning home, Saurav Kumar was ready with his new idea and launched his tech start up named Cube26.
Companies like Tiger Global and Flipkart and invested in Cube26. This company work on customized Android applications for multiple devices and platforms to improve the user experience.
However, he could not stay with this company for long, as Cube 26 was bought by Paytm in the year 2017. After exiting Cube26 he was exploring a new opportunities.
To promoting e-vehicle in India, the government of India in 2018 took a strong step.
The central government led by NITI Aayog made rules in this regard and announced huge support and subsidies for e-vehicle.
Then Sourav thought it appropriate to make an e-vehicle and in 2018 Oiler Motor launched.
By that time, many well-known companies either had ventured into passenger EVs or had disclosed their plans.
However, commercial EV didn’t have a solid start. So Sourav started working in the direction of small commercial vehicle powered by battery.
Sourav believe that most of the commercial EVs that are in the Indian market not considered strong.
If they have to load goods in the basement, then vehicles with batteries cannot pull it and bring it on the road.
That’s why he designed a powerful small commercial vehicle and built it on a trial basis.
Euler Motors has been running a pilot project in Delhi-NCR, Till now, the start-up has made more than 300 vehicles and handed them over to companies like Ecom Express, Big Basket, Flipkart, Milk Basket, Udan, BlueDart etc.
Currently, Euler Motors has orders for more than 2500 vehicles. It is expected that in the coming festive season, it will also be formally launched in the market.
Euler’s all-electric vehicle can run up to 100 km on a single charge. All EV auto rickshaws have 500 kg payload capacity, powered by a 5.76 kWh lithium-ion Samsung battery.
The battery life for these EV auto rickshaws is claimed to be around 3-4 years on.
Euler Motors has given employment to more than 600 people. Its valuation has been done at $ 30 million or Rs 2.21 billion.
The company has received funding of $11.6 million so far. The investors include Inventus Capital India, ADB Ventures, US based Emergent Ventures, Jetty Ventures, Andrew Lee, Blume Ventures, Udaan, K Ganesh, Srinivas Anumolu, and Sujeet Kumar- Cofounder.
Saurav is currently in meeting with several e-commerce companies and logistic providers for expansion of his e-mobility business.
He aims to expand his business to Tier-2 and Tier-3 cities of India in the near future and planning to offer vehicle subscription scheme. The company is going to rent out the e-vehicles in other metro cities soon.
This has been an interesting startup success story of Founder of Euler Motors who credits his father Om Prakash Yadav for encouraging him to think out of the box.
Saurav Kumar believes the passion for innovation is the only thing that has been driving him despite so many hardships.
We hope you find this inspiring startup story useful and inspiring through your entrepreneurial journey and will keep you inspired.
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